Yacht Finance Market Update Maritime Law Association Source
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Yacht Finance Market Update Maritime Law Association Source: Charter. World. com G. Robert Toney Co-Chair, Yacht Finance Committee May, 2019
NMLA Reports • • • Marine Lending Now Stable to Growing Since 2012 National Banks Regional Lenders Expanding Credit Unions Fin. Techs/Online Lenders
New Entries/Market Changes • Flagstar Bank (MI) re-entered boat lending in early 2018 • Wells Fargo and Bank of America still show an interest to re-enter retail boat lending • Sun. Trust/BB&T Merger • MB Financial/Fifth Third Merger
Today’s Marine Lenders Aqua Finance Bank. OZK (formally Bank of the Ozarks) Bank of the West Banterra Bank Branch Banking & Trust Company (BB&T is acquiring Sun. Trust) Community First Bank Georgia's Own Credit Union Huntington Bank Independent Bank Corporation L-H Finance MB Financial Bank (merging with Fifth Third Bank) M&T Bank Medallion Bank Merrick Bank North Cascades Bank Radius Bank Shore Premier Finance (Centennial Bank) Sun. Trust Bank (Marine & RV Finance; merging with BB&T) US Alliance Federal Credit Union US Bank
Floorplan Lenders • Wells Fargo Dealer Finance-Market Leader • Bank of the West • BB&T • L-H Finance • M&T Bank • Shore Premier (Centennial Bank)
NMBA 2017 Survey • 88% Reported Increased Loan Activity • Pre-owned yachts were 66% of Loan Volume ($) • 2018 “Boat” sales up 4% over 2017 (NMMA) • Yacht Sales Increases Reported higher (Broker Reports) -Burgess +10% -IYC +25%
Economic/Regulatory • Tax Cuts/Employment • Tariffs • Regulations • Delinquency 0. 45%/Charge offs 0. 26%
NMLA Update 2018 Report Due July 2019 www. marinelenders. org/annual-report 2019 Annual “ 40 th” Annual Conference Ocean Reef Club, Key Largo November 10 -12, 2019 2020 Marine Lending Workshop Spring 2020 (Dates/Venue TBD) Thank you to Jim Coburn & the National Marine Lenders Association
